POWELL'S BIZ TROOPS ON THE MARCH;NOW, IF ONLY HE'D LEAD THEM

Armed with the charisma of a natural-born leader and the most favorable press clippings since Eisenhower, retired Gen. Colin Powell is capturing a growing share of Chicago's political attention without firing a shot.

Some may focus on his credentials, others may like him because he's "none of the above," but the first black chairman of the Joint Chiefs of Staff, a 35-year military veteran who advised Presidents Reagan, Bush and Clinton, has a rare ability to excite support across the political spectrum.

While Mr. Powell hasn't ruled out an independent candidacy, the betting is that his best shot would be the GOP nomination.

And while there's talk that a ticket led by Senate Majority Leader Bob Dole of Kansas and Mr. Powell would have the kind of irresistible force that the latter unleashed in the Persian Gulf War, the GOP front-runner clearly has the most to lose if the general goes for commander in chief.

"I do know there are a lot of Republicans who definitely feel there's a lot less certainty about Dole because of Powell," says Cook County State's Attorney Jack O'Malley, the best-known Illinois Republican who has remained neutral in the presidential race.

With his own re-election to worry about next year, Mr. O'Malley hasn't decided whether to endorse Mr. Powell if he runs, or anyone else.

But "I'm really intrigued by the notion of Powell," he adds. "He has unlimited potential."

Even as a Republican, Mr. Powell would draw support from Democrats, particularly among African-Americans.

"If he decides to run for president, I'm going to support him," says Tom Fuller, a black Democrat who is president of the Metropolitan Water Reclamation District of Greater Chicago. "As far as my vote is concerned, Clinton is in trouble."

Says John Rogers, president of Ariel Capital Management and a prominent black business leader who is a registered Democrat but often supports Republicans, "The black community would come out in full force. It would be just a landslide in the black community."

"If he runs, I hope he runs as a Republican," says Harold Smith, chairman of the Illinois Republican Party.

Led by two prominent local business people, the movement to draft Colin Powell for president recently planted a flag in Chicago.

Along with Richard E. Friedman, partner in law firm Rosenthal & Schanfield, Mr. Hummer hosted a lunch with about 18 Chicago executives two weeks ago for Charles Kelly, founder and head of Citizens for Colin Powell, an unauthorized campaign committee based in Washington, D.C.

"These were well-connected people," says Mr. Friedman, who heads the non-profit National Strategy Forum, a national security issues study group. "Eighty percent said (they) would pull out their checkbooks."

Mr. Kelly, an investment banker in Washington when he's not talking up Mr. Powell's prospects, says he's heard similar responses at corporate and political get-togethers around the country. "Virtually everyone has said, 'You're right.'

"A number of people have a sense of obligation to Bob Dole. His campaign rests solely on the statement, 'It's my turn,'" says Mr. Kelly. "Polls show the question is whether they want to expand the party and win or pay back obligations and lose."

Riding a wave of favorable publicity as he storms the country touting his best-selling memoirs, Mr. Powell consistently outdoes Sen. Dole and the rest of the field in opinion polls, and he is the only potential GOP candidate who runs ahead of President Clinton.

"Colin Powell is very attractive to corporate people," says Malcolm Chester, vice-president of public affairs for Pepsi-Cola General Bottlers Inc. in Chicago. "His views are very close to the corporate mainstream," although "no one knows what his positions really are on taxes and regulatory reform."

Many business leaders already have contributed to the current Republican field. But they'd no doubt be quick to hedge their bets.

"I don't think Powell would have any problems raising money," says former Gov. James R. Thompson, chairman of the executive committee of law firm Winston & Strawn and a supporter of Sen. Dole for president. "If Powell gets in, you have a whole new ball game."

Mr. Powell's opportunity may be that corporate support for Dole is not exactly passionate.

"I support Dole," says Greg Baise, president of the Illinois Manufacturers' Assn., "but it's an enthusiasm tempered by his age." Given the 72-year-old Senate leader's previous White House bids, "can he get the job done?" Mr. Baise wonders.

"There's no one out there who's really lit the fire," he continues. "That's why there's interest in Powell."

However, there's sharp debate over whether Mr. Powell actually will enter the race. He indicated in his book that he's not inclined to run, while carefully leaving all of his options open.

"Politicians look at a guy like that and think of him as a rookie," says Evanston-based pollster Richard Day.

Does Mr. Powell really want to subject himself to the campaign trail's "83rd Holiday Inn and all the scrutiny?" asks Mr. Day. "The idea of anointing someone isn't going to happen-there's too much competition."

And there's no consensus on whether a Powell candidacy-should it become reality-would be a juggernaut like the one he oversaw in Operation Desert Storm or a confusing morass like Vietnam.

"I firmly believe people love Colin Powell because they don't know who Colin Powell is," says Penny Cate, vice-president of government relations for Quaker Oats Co. "The whole focus of the press will change if he announces."

On the other hand, says Mr. O'Malley, "the better prediction is that he could soar, rather than do a 180-degree turn."

What's remarkable is that interest in Mr. Powell is continuing to build, even after he revealed views on hot-button issues such as abortion, gun control and affirmative action that are far more moderate than those of the Republican congressional leadership.

"After their first blush of not liking him, hard-core conservatives will see he's not as bad as they thought," says Larry Horist, a conservative Republican activist in Chicago. "I think Colin Powell will be a very formidable candidate.

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